{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{2}{c}}
\toprule
                    &\multicolumn{2}{c}{Dependent variable: $X_{ni}/X_n$}\\\cmidrule(lr){2-3}
                    &\multicolumn{1}{c}{(1)}         &\multicolumn{1}{c}{(2)}         \\
\midrule
c_fraction          &                     &                     \\
$\delta^c \times z_{ni}^{(1)}$&     -0.0536\sym{***}&                     \\
                    &    (0.0146)         &                     \\
\addlinespace
$\delta^c \times z_{ni}^{(2)}$&                     &     -0.0487\sym{***}\\
                    &                     &    (0.0111)         \\
\midrule
Estimator           &        PPML         &        PPML         \\
\midrule Upstream $\times$ Downstream FEs&         Yes         &         Yes         \\
Upstream $\times$ Country FEs&         Yes         &         Yes         \\
Downstream $\times$ Country FEs&         Yes         &         Yes         \\
\midrule$R^2$       &       0.733         &       0.733         \\
Observations        &      133525         &      133525         \\
\bottomrule
\end{tabular}
}
